mkultrawide [any]

  • 3 Posts
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Joined 2 years ago
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Cake day: August 2nd, 2022

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  • Matt Gaetz can’t do shit to help Jones, and the bankruptcy isn’t going to be delayed by the court because it will mean a shit ton of professional fees, which means even less money for creditors lol. SCOTUS is probably the thing that could save him at this point, but it would absolutely blow up US bankruptcy law if the court rules that you can fuck over creditors and accept an offer that results in less recovery for political reasons.

    EDIT: I didn’t think about it intially, but I guess he’s hoping Gaetz will remove the US Trustee for the Southern District of Texas. It’s a political appointment and they can be fired. That’s who administers Chapter 7 bankruptcies under the bankruptcy code. If someone takes that position and decides to award the Jones Infowars despite creditors getting more recovery under The Onion bid, they can pretty much kiss their career goodbye once their term is up. Southern District of Texas is arguably second only to Delaware in terms of importance to bankruptcy case volume. Creditors have long memories and don’t forget shit like that. I’m still doubtful that the judge doesn’t uphold the sale. Lopez was appointed in 2019 so his term isn’t up until 2033.